It is important in this time to take stock of the changes that the economy will face, both as a whole and within the banking industry, and how Dodd-Frank and its liquidity measures may have to be altered to best stabilize the sector. However, these changes must be made with the post-COVID economy in mind, not one of never-ending stimulus and stay-at-home orders. Continue Reading
The authors discuss the proposal to repeal the cap on the state and local tax deduction and why that would be a mistake, especially given the pandemic and the policy responses that should be enacted. Continue Reading
In this post, the authors discuss the main provisions of three emergency funding bills passed by Congress and then discuss general rules for evaluating current and future policies designed to mitigate long-term damage to the economy from the coronavirus pandemic. Continue Reading
Given the uncertainty surrounding the economic effects and the poorly targeted benefits and burdens of a minimum wage, it is unlikely to be the best policy to increase the wages of low-wage workers. Continue Reading
It is clear that unless Congress acts, Social Security benefits will be reduced after the exhaustion of the trust fund in 2032. Projections highlighted in this blog illustrate the magnitude of the problem and the difficulty of measuring the economic effects of various policy reforms.